Global Automotive Manufacturing Electric Truck Market Research Report: By Vehicle Type (Class 3 Trucks, Class 4 Trucks, Class 5 Trucks, Class 6 Trucks, Class 7 Trucks, Class 8 Trucks, Terminal Tractors), By Powertrain (Battery Electric, Plug-in Hybrid Electric, Fuel Cell Electric), By Application (Long-haul Trucking, Regional Distribution, Last-mile Delivery, Construction, Mining), By Battery Type (Lithium-ion Batteries, Lead-acid Batteries, Solid-state Batteries), By Range (Less than 100 miles, 100-200 miles, 200-300 miles, 300-400 miles,

Global Automotive Manufacturing Electric Truck Market Overview

As per MRFR analysis, the Automotive Manufacturing Electric Truck Market Size was estimated at 26.07 (USD Billion) in 2022.

The Automotive Manufacturing Electric Truck Market Industry is expected to grow from 31.63(USD Billion) in 2023 to 180.1 (USD Billion) by 2032. The Automotive Manufacturing Electric Truck Market CAGR (growth rate) is expected to be around 21.32% during the forecast period (2024 - 2032).

Key Automotive Manufacturing Electric Truck Market Trends Highlighted

The key market drivers for the global automotive manufacturing electric truck market include increasing fuel efficiency regulations, rising environmental concerns, and government incentives for electric vehicle adoption. Additionally, the growing demand for sustainable transportation and the development of advanced battery technologies are further driving the market.

Recent trends in the market include the increase in demand for heavy-duty electric trucks, the emergence of autonomous driving technology, and the development of integrated logistics solutions. Furthermore, the market is expected to witness significant growth in the Asia-Pacific region, driven by increasing urbanization, rising disposable income, and government investments in electric vehicle infrastructure.

Opportunities to be explored or captured in the market include the development of cost-effective electric truck solutions, the optimization of charging infrastructure, and the integration of electric trucks into fleet management systems. Additionally, the exploration of alternative propulsion systems, such as hydrogen fuel cells, and the adoption of advanced safety features are expected to open new avenues for growth in the market.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Automotive Manufacturing Electric Truck Market Drivers

Government Regulations and Incentives

Governments around the world are implementing stricter environmental regulations to reduce emissions and promote the adoption of electric vehicles. This is driving the demand for electric trucks, as they offer a more sustainable alternative to traditional diesel-powered trucks. Additionally, governments are offering incentives, such as tax breaks and subsidies, to encourage the purchase of electric trucks. These incentives are making electric trucks more affordable for businesses and consumers, further driving the growth of the market. The growing awareness of the environmental impact of transportation is also driving the demand for electric trucks.

Consumers are becoming increasingly concerned about the air pollution caused by diesel-powered trucks, and they are looking for more sustainable alternatives. Electric trucks offer a zero-emissions solution that can help to reduce air pollution and improve public health. The increasing availability of charging infrastructure is also supporting the growth of the electric truck market. Governments and private companies are investing in the development of charging stations, making it easier for electric truck owners to charge their vehicles.

This is reducing the range anxiety associated with electric trucks and making them a more viable option for businesses and consumers.

Technological Advancements

The rapid development of battery technologies makes electric trucks more available. The first improvements in battery technologies concern improvements are energy density defined as the capacity to store more energy for the same volume or mass. More energy-dense batteries are smaller, cost-effective, and have larger ranges, which decreases the costs of electric trucks. Moreover, the durability of batteries improves: it is possible to cycle them more, leading to reduced maintenance costs.

Besides, there are technological improvements, allowing the creation of new types of electric motors that are more powerful and can provide an electric truck with more miles per hour and a higher maximum speed. Moreover, electric motors are advantageous in terms of the longevity of the way since they are more reliable compared to diesel engines. As a result, all these factors make electric trucks a more reasonable choice for drivers and businesses.

Cost Savings

It is easier to see that electric trucks offer significant cost savings as compared to traditional trucks, especially diesel-powered trucks. To begin with, electricity often costs less than diesel fuel, meaning that an expense that is among the greatest for businesses can be reduced. Moreover, electric trucks also tend to require less maintenance, which can also save costs. Finally, even though it is generally acknowledged that the initial expense associated with acquiring an electric truck is greater, such a truck also has a longer usable life span than a diesel truck, meaning that it can be used for a longer period before needing replacement.

The cost savings are expected to drive businesses to adopt electric trucks at an increasing rate.

Automotive Manufacturing Electric Truck Market Segment Insights:

Automotive Manufacturing Electric Truck Market Vehicle Type Insights  

The Vehicle Type segment of the Global Automotive Manufacturing Electric Truck Market is anticipated to witness significant growth in the coming years. The increasing demand for electric vehicles, coupled with government regulations and incentives, is driving the growth of this segment. Class 3 to 8 trucks and terminal tractors are expected to contribute significantly to the overall market growth. Class 3 trucks are light-duty trucks with a gross vehicle weight (GVW) of 10,001 to 14,000 pounds. These trucks are commonly used for deliveries, construction, and maintenance purposes.

The growing demand for last-mile delivery services and the need for eco-friendly transportation options are propelling the growth of the Class 3 electric truck market, which is projected to reach a valuation of USD 10.2 billion by 2028. Class 4 trucks have a GVW of 14,001 to 16,000 pounds and are primarily utilized for medium-duty applications such as hauling equipment and materials. The rising demand for electric trucks in the construction and agriculture sectors is expected to boost the growth of the Class 4 electric truck market, which is anticipated to reach a market size of USD 12.5 billion by 2028.

Class 5 trucks, with a GVW of 16,001 to 19,500 pounds, are commonly used for hauling heavier loads and long-distance transportation. The increasing adoption of electric trucks for regional distribution and logistics operations is expected to contribute to the growth of the Class 5 electric truck market, which is projected to reach a valuation of USD 15.3 billion by 2028. Class 6 trucks have a GVW of 19,501 to 26,000 pounds and are primarily utilized for heavy-duty applications such as construction, mining, and waste management. The growing demand for electric trucks in these industries is expected to drive the growth of the Class 6 electric truck market, which is anticipated to reach a market size of USD 22.1 billion by 2028.

Class 7 trucks, with a GVW of 26,001 to 33,000 pounds, are commonly used for hauling heavy loads over long distances. The increasing adoption of electric trucks for long-haul transportation and intermodal operations is expected to contribute to the growth of the Class 7 electric truck market, which is projected to reach a valuation of USD 35.6.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Automotive Manufacturing Electric Truck Market Powertrain Insights  

The Powertrain Market is one of the most critical parts of the Global Automotive Manufacturing Electric Truck Market. It is primarily responsible for the performance, efficiency, and eco-friendliness of electric trucks. The Powertrain Market consists of three separate submarkets: BEV, PHEV, and FCEV. As of 2023, the BEV powertrain segment of the truck market is the most relevant. It accounted for over 60% of the Global Automotive Manufacturing Electric Truck Market revenue, primarily because of the rising demand for zero-emission trucks and the prevalence of charging systems.

In a few years, the most rapidly growing market segment of electric trucks would be the PHEV, which can provide both electric and gasoline powertrain systems. The FCEV market is also capable of great future growth, as the segment is still in its early development stages.  The Global Automotive Manufacturing Electric Truck Market is expected to grow at a considerable rate. The driving forces behind the growth are the increasing number of government regulations aimed at increasing the number of electric vehicles on the road, the rising level of environmental concern among consumers, as well as the increasing technological feasibility of the battery and powertrain technologies.

The Global Automotive Manufacturing Electric Truck Market is also fueled by the rising demand for electric trucks in a wide variety of applications, such as long transportation services, urban delivery, and construction.

Automotive Manufacturing Electric Truck Market Application Insights  

The application segment plays a crucial role in shaping the growth dynamics of the Global Automotive Manufacturing Electric Truck Market. Long-haul trucking, regional distribution, last-mile delivery, construction, and mining are the key application areas for electric trucks. Long-haul trucking is anticipated to hold a sizable market share, driven by the increasing demand for efficient and sustainable transportation solutions for long-distance freight movement. In 2023, the Global Automotive Manufacturing Electric Truck Market for long-haul trucking was valued at USD 10.2 billion and is projected to reach USD 62.7 billion by 2032, exhibiting a CAGR of 23.5%.

Regional distribution is another significant application segment, with a projected market value of USD 7.5 billion in 2023 and an estimated CAGR of 20.8% until 2032. Electric trucks offer cost-effective and environmentally friendly solutions for short-haul and regional distribution operations. Last-mile delivery is gaining traction due to the surge in e-commerce and home deliveries. The Global Automotive Manufacturing Electric Truck Market for last-mile delivery is expected to reach USD 4.1 billion by 2032, growing at a CAGR of 22.1%. Construction and mining applications are also witnessing the growing adoption of electric trucks.

The need for zero-emission vehicles and improved safety standards is driving the demand in these sectors. The construction and mining segment is projected to account for a market value of USD 2.3 billion in 2023 and is estimated to expand at a CAGR of 24.3% till 2032.

Automotive Manufacturing Electric Truck Market Battery Type Insights  

The Battery Type segment of the Global Automotive Manufacturing Electric Truck Market is anticipated to witness significant growth over the forecast period, owing to the increasing demand for electric vehicles and government initiatives promoting their adoption. Lithium-ion batteries currently dominate the market, accounting for over 90% of the revenue share in 2023. These batteries offer high energy density, long cycle life, and fast charging capabilities, making them the preferred choice for electric trucks. Lead-acid batteries, on the other hand, are less expensive but have lower energy density and shorter cycle life.

Solid-state batteries are emerging as a promising technology with the potential to revolutionize the electric truck battery market. They offer higher energy density, faster charging times, and improved safety compared to traditional batteries. As research and development in solid-state batteries continue, their adoption in electric trucks is expected to increase in the coming years, further driving the growth of the Battery Type segment in the Global Automotive Manufacturing Electric Truck Market.

Automotive Manufacturing Electric Truck Market Range Insights  

The range segment in the Global Automotive Manufacturing Electric Truck Market is expected to grow significantly in the coming years, driven by increasing demand for long-range electric trucks. The 'More than 400 miles' range is expected to witness the highest growth, owing to the growing need for electric trucks with extended range capabilities. The '300-400 miles' range is also expected to grow at a significant pace, as it offers a balance between range and cost. The '200-300 miles' range is expected to remain a popular choice for regional and urban applications.

The '100-200 miles' range is expected to find its niche in last-mile delivery and other short-range applications. The 'Less than 100 miles' range is expected to have limited growth, as it is suitable for very specific applications.

Automotive Manufacturing Electric Truck Market Regional Insights 

The regional segmentation of the Global Automotive Manufacturing Electric Truck Market offers valuable insights into the market's growth dynamics and competitive landscape. North America holds a significant market share due to the presence of established automotive manufacturers and government initiatives promoting electric vehicle adoption. Europe follows closely, driven by stringent environmental regulations and consumer demand for sustainable transportation solutions. The Asia-Pacific region is projected to witness the highest growth rate, spurred by rising demand from emerging economies such as China and India.

South America and, the Middle East, and Africa regions are expected to contribute a modest share to the overall market, with growth opportunities driven by urbanization and infrastructure development. The Global Automotive Manufacturing Electric Truck Market revenue is projected to reach USD 180.1 billion by 2032, expanding at a CAGR of 21.32% during the forecast period (2023-2032), indicating significant growth potential across all regions.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Automotive Manufacturing Electric Truck Market Key Players And Competitive Insights:

The main players in this market are concentrating on retaining their positions and are still investing in the expansion and innovation of their product portfolios and making new strategic partnerships. It is noted that the market of electric trucks by Automotive Manufacturing is highly competitive and striving, the notable companies with the largest share are producing and manufacturing the newer and more advanced versions of electric trucks. In particular, according to the market trends, it can be seen that the development of this market is mostly caused by government regulations and incentives, raised environmental concerns, and technological advancements. One of the major players in this market is Tesla.

Tesla can definitely be foreseen as a leader of Automotive Manufacturing’s electric truck market as the company is a pioneer in the electric vehicles industry. It produces innovative and functional semi-trucks such as Semi that are fast, reliable, and efficient while being cheaper to operate than other trucks. These trucks have a long range, produce no emissions, and offer high performance making Tesla one of the favorite companies among consumers. Another major player in the market is Daimler Truck. Although a huge and well-established company making commercial vehicles long ago, Daimler Truck is already making electric trucks to keep up with the demand for clean trucks. These eActros trucks are sustainable, reliable, and efficient while also being the safest trucks on the market. The company’s innovative design is the advantage of Daimler Truck, as well as its global presence.

Key Companies in the Automotive Manufacturing Electric Truck Market Include:

• CNH Industrial


• Volvo Trucks


• Daimler Truck


• Tata Motors


• Ashok Leyland


• Isuzu Motors


• BYD


• Mitsubishi Fuso Truck and Bus


• UD Trucks


• Tesla


• Navistar International


• PACCAR


• Rivian


• Hino Motors


• Nikola

Automotive Manufacturing Electric Truck Market Industry Developments

The Global Automotive Manufacturing Electric Truck Market is projected to grow from USD 31.63 billion in 2023 to USD 180.1 billion by 2032, at a CAGR of 21.32% during the forecast period. Growing demand for electric vehicles, coupled with stringent government regulations to reduce carbon emissions, is driving the Automotive Manufacturing Electric Truck Market growth.

Additionally, advancements in battery technology, increasing consumer awareness about environmental sustainability, and supportive government policies are further fueling the market expansion. Key players in the market are focusing on strategic partnerships, technological advancements, and product innovations to gain a competitive edge. Recent news developments include Ford's investment in a new electric truck factory in Tennessee, Tesla's Cybertruck production launch, and Volvo's plans to transition to fully electric truck production by 2030.

Automotive Manufacturing Electric Truck Market Segmentation Insights

Automotive Manufacturing Electric Truck Market Vehicle Type Outlook

• Class 3 Trucks


• Class 4 Trucks


• Class 5 Trucks


• Class 6 Trucks


• Class 7 Trucks


• Class 8 Trucks


• Terminal Tractors

Automotive Manufacturing Electric Truck Market Powertrain Outlook

• Battery Electric


• Plug-in Hybrid Electric


• Fuel Cell Electric

Automotive Manufacturing Electric Truck Market Application Outlook

• Long-haul Trucking


• Regional Distribution


• Last-mile Delivery


• Construction


• Mining

Automotive Manufacturing Electric Truck Market Battery Type Outlook

• Lithium-ion Batteries


• Lead-acid Batteries


• Solid-state Batteries

Automotive Manufacturing Electric Truck Market Range Outlook

• Less than 100 miles


• 100-200 miles


• 200-300 miles


• 300-400 miles


• More than 400 miles

Automotive Manufacturing Electric Truck Market Regional Outlook

• North America


• Europe


• South America


• Asia Pacific


• Middle East and Africa